It was said to be the absolutely perfect scenario (see: below). The vaccines put an end to the pandemic within sight, combined with intractable problems getting any iron out of the ground and then shipped somewhere useful, demand for the commodity was expected to be robust and better while at the same time supply would remain constricted. With American consumers [...]
Over here, on the other side of that ocean, the US economy can only dream of the low levels Chinese industry has been putting up this late into 2020. At least those in the East are back positive year-over-year. Here in America, manufacturing and industry can’t even manage anything like a plus sign.Summer slowdown extends in Industrial Production. According to [...]
Because it worked out so well for Jay Powell? No. They have no idea what to do now. Zero. And they are out of ideas. I’m writing about the ECB here, but it begins first with the Federal Reserve Flustered by years of a very low unemployment rate stuck several points below where “full employment” had been estimated as late [...]
It’s a palpable impatience. Having learned absolutely nothing from the most recent German example, there’s this pervasive belief that if the economy hasn’t fallen apart by now it must be going the other way. The right way. Those are the only two options for mainstream analysis (which means it isn’t analysis). You can see it in how everything is framed. [...]
Since I advertised the release last week, here’s Mexico’s update to Industrial Production in November 2019. The level of production was estimated to have fallen by 1.8% from November 2018. It was up marginally on a seasonally-adjusted basis from its low in October. That doesn’t sound like much, -1.8%, but apart from recent months this would’ve been the third worst [...]
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